EURJPY, 16/10/15 @06:19 GMT

Monitor the pair from H4 Time-Frame. Price wants to make a statistical validation UPward move to the Median Bollinger Band. If you add FIBONACCI RETRACEMENT TOOL to your Chart spreading it on the last downward wave, you’ll see that 50.0 FIB Ratio -which is the most frequent retracement level, is at Tenkan Sen’s level, while 61.8 FIB Ratio, the next most frequent is exactly at Median Bollinger Band’s level. WAIT patiently, for price’s interaction with Median Bollinger Band to FINISH.

When price makes an UP Spike to the Median BBAND or a SWING-HIGH above it, with a Bearish candlestick closing below it, start looking to SELL.

LEGAL DISCLAIMER

The content of this website should not in any way be construed, either explicitly or implicitly, directly or indirectly, as investment advice, recommendation or suggestion of an investment strategy with respect to a financial instrument, in any manner whatsoever. Any indication of past performance or simulated past performance presented, is not a reliable indicator of future results and only serves educational purposes.